Management Agreements between Cambridge TRS, Inc. and Sonesta International Hotels Corporation for Full Service Hotels
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Summary
Cambridge TRS, Inc. has entered into ten management agreements with Sonesta International Hotels Corporation to operate various full service hotels across the United States. Each agreement outlines the management of a specific hotel property, the invested capital amount, and the effective dates. The agreements are substantially identical in all material respects and specify the roles of the owner, landlord, and manager. Key terms include the invested capital for each property and the effective dates for both the agreements and certain financial provisions.
EX-10.1 3 hpt_93017xexhibitx101.htm EXHIBIT 10.1 Exhibit
Exhibit 10.1
Schedule to Exhibit 10.1
There are 10 management agreements with Sonesta International Hotels Corporation for full service hotels, a representative form of which is filed as an exhibit to our Current Report on Form 8-K dated April 23, 2012 and which is incorporated herein by reference. The other 9 management agreements, with the respective parties and applicable to the respective hotels listed below, are substantially identical in all material respects to the representative form of management agreement.
Owner | Hotel | Landlord | Date of Agreement | Effective Date | Invested Capital Amount | Section 2.02(1) Date | |||||||
Cambridge TRS, Inc. | Royal Sonesta Cambridge 40 Edwin H. Land Boulevard Cambridge, MA 02142 | HPT Cambridge LLC | January 31, 2012 | January 31, 2012 | $ | 120,000,000 | January 31, 2015 | ||||||
Cambridge TRS, Inc. | Royal Sonesta Harbor Court Baltimore 550 Light Street Baltimore, MD | Harbor Court Associates, LLC | May 31, 2012 | May 31, 2012 | $ | 47,296,000 | January 31, 2015 | ||||||
Cambridge TRS, Inc. | Sonesta Hotel Philadelphia 1800 Market Street Philadelphia, PA | HPT IHG-2 Properties Trust | June 18, 2012 | June 18, 2012 | $ | 32,500,000 | January 1, 2015 | ||||||
Cambridge TRS, Inc. | Royal Sonesta Houston Hotel 2222 West Loop South Houston, TX | HPT IHG-2 Properties Trust | July 16, 2012 | July 16, 2012 | $ | 70,671,350 | January 1, 2016 | ||||||
Cambridge TRS, Inc. | Sonesta Gwinnett Place 1775 Pleasant Hill Road Duluth, GA | HPT Cambridge LLC | February 26, 2013 | May 17, 2013 | $ | 31,000,000 | January 1, 2017 | ||||||
Cambridge TRS, Inc. | Royal Sonesta New Orleans 300 Bourbon Street New Orleans, LA | Royal Sonesta, Inc. | June 28, 2013 | June 28, 2013 | $ | 151,000,000 | January 1, 2016 | ||||||
Cambridge TRS, Inc. | Sonesta Fort Lauderdale 999 North Fort Lauderdale Beach Boulevard Fort Lauderdale, FL | HPT IHG-2 Properties Trust | May 30, 2014 | May 30, 2014 | $ | 65,000,000 | January 1, 2018 | ||||||
Cambridge TRS, Inc. | Sonesta Silicon Valley 1820 Barber Lane Milpitas, CA | HPT IHG-2 Properties Trust | December 5, 2016 | December 5, 2016 | $ | 46,000,000 | January 1, 2020 | ||||||
Cambridge TRS, Inc. | Royal Sonesta Chase Park Plaza 212-232 Kingshighway Boulevard St. Louis, MO | HPT IHG-2 Properties Trust | June 2, 2017 | June 2, 2017 | $ | 87,750,000 | January 1, 2021 | ||||||
